Loss Mitigation Specialist (40 Hrs/Wk)

We know what you're thinking. "What kind of name is IncredibleBank?" Well, we're glad you asked.

With a name like IncredibleBank, we have a lot to live up to. Our name is a promise we make every day to our customers and to our team members (and hey, that could be you!). A promise that we strive to be incredible in everything we do. A promise that will help our customers, fellow team members, and our communities to do the incredible.

At IncredibleBank, we're all about ICE. What's ICE? ICE stands for Incredible Customer ExperienceTM (that's right - an experience so good and so important we trademarked it). ICE illustrates the core values that drive everything we do - how we conduct business, how we treat each other, and how we continuously strive to build on our model of customer-focused banking. Our core values have been in place for more than 50 years and continue to influence every aspect of our operation today.

So - how can you help us live up to our name?

What You’ll Do:

• Reviews CRA loan applications (Pal$ and Fresh Start) and reviews customer delinquent property taxes a monthly basis.
• Performs skip traces as needed to track and locate customers and posting loan payments.
• Processes modifications, deferrals, and extensions for consumer loan portfolios.
• Maintains the Borrower loan file including all correspondence and financials.
• Monitors and reviews assigned collection queues to determine action to be taken on delinquent accounts in accordance with applicable rules, regulations, policies, and procedures. Solicits payment arrangements on delinquent loans.
• Analyzes and communicates with customers to determine appropriate action, which could include loan modifications or loan workouts. Methods to accomplish this include but are not limited to phone calls, collection letters, and in-person interviews.
• Counsels customers concerning their financial obligations and offers suggestions and/or alternatives; recommends further action as deemed necessary.
• Maintains accurate accounting of transactions regarding payments, collection activity, modification, court required funds, etc.
• Maintains an accurate and detailed written record of all customer communications within core system.
• Functions as the liaison between the bank and the customer resolving issues relative to the collections area and other business lines within the bank to obtain workable solutions for both parties.
• Assembles and submits accurate legal files to attorneys. Maintain legal correspondence between lender, customer, and attorney to include foreclosure, forbearance and replevin.
• Maintains knowledge of regulatory requirements, investor/insurer guidelines and other relevant investor timeframes required to determine borrower eligibility for a loss mitigation workout. Understands action needed for specific loan types.
• Reviews, monitors, and completes loan modifications and mortgage foreclosure requests; gather additional documentation as requested for workouts.

This is a regular full-time, salaried-exempt position, averaging approximately 40 hours/week. Schedule may vary between the hours of 7:30 am to 5:30 pm CST Monday through Friday.

This position will work on-site at our IncredibleBank branch location on 17th Avenue in Wausau, WI.

What It Takes:

• Four-year degree from an accredited University and 5 to 7 years of related experience in the financial industry; or equivalent combination of education and experience.
• Experience in collections/collection loan recovery and customer service desired. Underwriting and paralegal experience preferred.
• Have ability to obtain Nationwide Mortgage Licensing System and Registry (NMLS) License.
• Ability to communicate with internal and external customers in a professional manner using various methods of communication.
• Excellent written and oral communication skills.
• A high degree of resourcefulness and adaptability.

What You'll Get:

Our promise of ICE extends to our employees as well. Our employees are our greatest asset, and we strive to show our appreciation by offering top-tier benefits and, dare we say, more than competitive compensation that we’re willing to discuss up front.

And we are constantly evaluating and improving our benefits. In fact, eligible employees receive over 30 days off per calendar year! That includes 18 days of PTO to begin, PLUS an Anniversary Holiday, Birthday Holiday, Wellness Holiday, and 12 observed Bank Holidays.

Check out our total rewards package at: https://incrediblebank.mybenefitsapp.com/

About the Company:

IncredibleBank first started in 1967 as River Valley Bank with a single location in Rothschild, WI. And we may have strong roots in community banking, but IncredibleBank wasn’t awarded as one of America’s Most Innovative Banks by the Independent Community Bankers of America for our popcorn Fridays. Though we do love free popcorn...

We strive to stay on the leading edge of banking technology with the goal providing the best, simplest way for our customers across the country to do their banking. But if our customers need us, they can pick up the phone and talk to a real person. And that’s what makes us America’s first national online community bank. And who doesn’t love the idea of a national community?

Today, IncredibleBank is a $2.0 billion-asset institution that has grown to 17 brick-and-mortar locations with customers in all 50 states. But we know that as an employer, it’s less about size than it is about culture. That’s why we’re especially proud to have been certified as a Great Place to Work.

Learn more about our Great Place to Work engagement results here: https://www.greatplacetowork.com/certified-company/7022621